Village of Western Springs Board of Trustees Met Oct. 12.
Here is the minutes provided by the board:
CALL TO ORDER
The meeting opened at 7:00 p.m.
PLEDGE OF ALLEGIANCE
President Gallagher led the audience in the Pledge of Allegiance.
ROLL CALL (Acting Clerk Horvath)
As noted above
President Gallagher said in accordance with the Open Meetings Act, the CDC directive regarding social distancing guidelines and Governor Pritzker's disaster proclamation dated September 18, 2020 and executive order No. 55 extending the Governor's prior executive orders related to the CO VID-19 pandemic and his implementation of Phase 4 of the Restore Illinois Plan we are conducting this meeting of the Village Board via teleconference. A conference ID number has been posted on the Village's website and we invite members of the public to remotely attend the meeting. We are making a concerted effort to conduct these special meetings as similar to our regular board meeting format as possible including public comment. Members of the public may participate during the citizen comments portion of the meeting.
READING OF AGENDA - ADDITIONS - DELETIONSThere were no changes to the agenda.
PUBLIC HEALTH UPDATE
President Gallagher stated that today, all regions of the state remain in Phase 4 of the Governor'sRestore Illinois plan, and as of Friday, Region 4 has reduced the positivity rate and its mitigation measures have been removed in that region.
Region 1 's enhanced mitigation measures remain in effect. This area is in northwestern Illinois. The Illinois Department of Health (IDPH) reports that 26 counties throughout the State are at the warning level for enhanced mitigation measures, but not Cook County, not the City of Chicagoor suburban Cook County. Suburban Cook County, our region, Region 10, remains relatively stable and the rate of positive cases is well below the 8% threshold that signals mitigation measures are necessary.
Check the Village's COVID-19 webpage frequently for information related to COVID-19 health metrics, links to other resources, and timely information. There you will find information related to enjoying a safe Halloween, applying for mortgage relief through Cook County, and pop-upCOVID-19 testing sites, among other items of interest. The Village of Countryside will host a drive-through testing site this weekend on Saturday and Sunday, October 17 and 18. Please seethe website posting check for more information.
CITIZEN COMMENTS
President Gallagher reported that resident John Fanone had appeared at the Village to attend this meeting in person. Due to COVID-19, the Village Hall is closed to the public. Mr. Fanone had submitted a letter to the Board of Trustees last week and that letter will be made a part of the public comments as part of the meeting minutes.
The Board heard from several residents who are in support of moving forward with the side walk feasibility study and creating a plan for installation of sidewalks throughout the Forest Hills subdivision. Speaking this evening were residents Amy Tillies, Rod Frazier, Collen Pabst, and Scott Shelbourne. Ms. Tillies and Mr. Frazier indicated a petition, which she said contained 246 signatures and 59 comments in support of universal Forest Hills sidewalks, was sent to the VillageBoard along with letters of support for sidewalks from the local school board. District 101Superintendent Barnhart, St. John of the Cross Parish School, Forest Hills PTA, and Western Springs Little League. Ms. Pabst suggested the possibility of placing a referendum on the ballot regarding the question of sidewalks throughout the Village. Mr. Shelbourne related a story regarding a police incident in town in the Forest Hills neighborhood when the police cars were traveling at a high rate of speed through the neighborhood. Mr. Shelbourne said the need for sidewalks in Forest Hills is about safety.
No other citizen comments were sent by email or in hard copy in the drop box.
1) PROPERTIES AND RECREATION - TRUSTEE CHEN
A) Capital Summary Report
Trustee Chen presented the Properties and Recreation Committee capital summary report. The committee met last Wednesday evening. Tmstee Chen said the committee discussed several items including two items which she will review in her report which the committee recommended for action and approval by the Board this evening. The West Pedestrian Underpass project, the Wolf Road Bike Path and the West Suburban Mass Transit Bike and Pedestrian project, and the East Train Platform project updates are all included on the monthly capital summary report.
Trustee Chen noted that the West Suburban Mass Transit Bike and Pedestrian project consisted of two phases and was located on Burlington Avenue between Central and Grand Avenues. Phase one of the project was resurfacing ofBNSF commuter parking, ADA sidewalk improvements and permanent bike racks. Phase two consisted of the public electrical vehicle charging station and a bike canopy for permanent bike racks. The total project cost was approximately One Hundred Seventy-Six Thousand ($176,000.00) Dollars with anticipated sixty-seven (67%) percent reimbursement in grant funds from the West Suburban Mass Transit District. In September, staff requested that the original grant be amended to allow for one hundred (100%) percent reimbursement of project costs. Trustee Chen was very happy to report that this request was granted. Trustee Chen extended a thank you for the hard work, particularly, of Assistant Director Casey Biernacki and the MunicipalServices staff for this effort.
Trustee Chen provided an update on the Wolf Road Bike Path project. A kick-off meeting was held with the Cook County Forest Preserve and the status is that we are waiting for an intergovernmental agreement with the Forest Preserve at this time.
B) Resolution Approving and Authorizing the Execution of an Independent Contractor Agreement Between the Village of Western Springs & Mattix Music
C) Proposal From 845 Design Group for Permit Documents and Public Bidding for the Upper Level of Grand Avenue Community Center
Trustee Chen reported on agenda items 1B and 1C which the committee recommended for action and approval this evening. Trustee Chen presented a resolution approving the execution of an independent contract agreement between theVillage of Western Springs and Mattix Music. The committee discussed the potential new contractor, Mattix Music, and the changes that are being recommended to the current space at Grand Avenue that they would potentially occupy. The space is the old Music Makers space. Trustee Chen stated that it is nice that we are getting another music studio at Grand Avenue. The space needs to be upgraded to become usable. Staff has received a proposal from 845 Design for architectural drawings and project bidding in the amount of Seven Thousand Eight Hundred ($7,800.00) Dollars. The project estimate is approximately Seventy-Five Thousand ($75,000.00) Dollars.
The cost of the capital improvements will be drawn from the Recreation Capital Fund balance. The payback period on the project is approximately 2.5 years. This will bean immense improvement to the structure itself. In the contract, it states that Mattix Music is obligated to pay for 36 months of rent, even if they default, to cover the costs of the improvements. Dan and Katie Mattix were in attendance virtually this evening. With no objection from the Board, these two items will be on the docket for consideration of approval later this evening.
D) Ordinance Authorizing the Disposal of 2006 Vermeer BC 1500 Chipper
Trustee Chen presented a request to dispose of one (1) 2006 Vermeer BC 1500chipper which staff recommended be traded-in last month. The ordinance is a house keeping item which will be added to the October 26, 2020 omnibus vote list.
E) 2021 Budget
Trustee Chen reported that the committee reviewed line by line draft versions of both the Recreation and Municipal Services 2021 budget in their committee meeting.
2) PUBLIC WORKS AND WATER - TRUSTEE FINK
A) Capital Summary Report
Trustee Fink reviewed the Public Works and Water capital summary report. The Ridge wood Oaks Detention Basin project is on hold until the Village hears back from the homeowner's association of Ridge wood Oaks about alternative plans. They have o get back to us by October 26, 2020 and if they don't get back to us by then, we will move forward with the current plan. The Well #5 electrical building is complete. ComEd has finished its hook-ups and Water Well Solutions is on-site setting up the pump and motor. Throughout October and November, Well #5 will slowly be brought on-line.
This fall, the cell providers are going to erect a monopole, take their equipment off ofthe cell towers on the Spring Rock Park elevated tank, and place their equipment onthe monopole temporarily until the elevated tank is painted. Regarding the 2020Roadway Program, all the concrete on Prospect Avenue is completed and the road is open to the public. Crews are now working on the green infrastructure that is supposed to help with water drainage at Reid Street and Prospect Avenue. The east lane of Clausen Avenue is completed and work on the west lane of Clausen will start this week.
B) Forest Hills Sidewalk Discussion
Trustee Fink gave an overview of the Forest Hills sidewalk matter. The Village has received a proposal for a feasibility study from V3 for Sixteen Thousand ($16,000.00)Dollars. The study will look at the impact on the mature trees, driveway aprons, accessibility and ADA access, utility conflicts and overall water drainage that would be impacted by sidewalk installation. This study has to take place no matter what, if we are to work on sidewalks. To residents who have been e-mailing wondering why the Village is "wasting" Sixteen Thousand ($16,000.00) Dollars on this, Trustee Fink said the feasibility study has to happen if we are to proceed with sidewalks. This is not a waste of money. Trustee Fink stated that most importantly the feasibility will give the Village an idea of how much this program would cost and possibly cut it up in smaller chunks that can be done over time and, possibly, look at grants that might be available to fund such a project. Trustee Fink said he believes it is worth moving forward with the study. The big hiccup was that this was not a budgeted item for 2020. The Village conducted the Springdale stormwater study which was un budgeted, and the question is whether we have $16,000.00 or do we need to put the Forest Hills sidewalk study in the budget for spring 2021.
Village Manager Velkme stated that this is an un budgeted item but there are funds in the Public Benefit Fund which could be transferred to the operating budget and be used to cover the cost of the study. Director Turi stated that if that is the wish of the Board, a request can be presented to the Finance Committee to transfer funds from the Public Benefit Fund. Trustee Rudolph asked how quickly this could occur.Director Supert said if the Board decides to move forward with the study, the contract will probably take a few weeks to coordinate and start work. It would probably take a few months to complete the preliminary feasibility study. After completion, a draft study could be presented to the Board to make decisions on next steps. Director Rudolph said she read over what they would provide in the feasibility study and they will provide a variety of options including sidewalk installation on one or both sides of the streets. Director Supert said that is the case.
Trustee Rudolph said she cautioned spending in August with concern over costs this year as a result of COVID-19. After looking at this further, she appreciates the option mentioned by Village Manager Velkme with where the funds to pay for the study can be obtained by a transfer and she personally is in favor of moving forward. Trustee Rudolph said she appreciates all of the time that Trustee Fink, staff and all the residents have put into this matter. Trustee Chen said she understands the issue at hand is the feasibility study. President Gallagher said it would be placed on theOctober 26, 2020 agenda for consideration of approval. Trustee Chen said she has more to say about the current sidewalk policy but is in agreement to move forward with the feasibility study. President Gallagher said the will of the Board in the strategic planning session was to bring the sidewalk policy back to the InfrastructureCommission for further study and a recommendation. Trustee Tyrrell said he is in favor of moving forward with the feasibility study and asked if it would be on the omnibus. President Gallagher said she would like to keep the item off the omnibus as she will recuse herself from the voting as her brother works at V3. Trustee John said he is in favor of moving forward with the feasibility study. After the Board receives the results of the study, a review of the facts and decision on where to go from there will be the next step. Trustee Lewis is in favor of moving forward with the feasibility study on October 26, 2020.
C) Central Council of Mayors Transportation Resilience Plan
Trustee Fink said that the Village is one of 15 communities in the Chicagoland area which make up the Central Council of Mayors. In 2018, the Council, through the Chicago Metropolitan Agency of Planning (CMAP) completed the first phase of the Surface Transportation (STP) Fund and Transportation Plan. The first phase outlined transportation improvement needs of the 15 communities to propose future multi juris dictional projects. Trustee Fink presented an intergovernmental agreement between the Village and CMAP. CMAP will provide technical assistance and manage a project to assess the transportation system further by identifying flooding issues resulting from climate change and pinpointing where flooding and storm water needs coincide with planned transportation projects. The local contribution is $15,000, split evenly between the 15 members of the council. These are the WestCentral Municipal Conference Central Transportation committee communities perVillage Manager Velkme which are all in Cook County. Our share is $1,000.00. A resolution providing for authorization and approval to execute the intergovernmental agreement was added to the October 26, 2020 omnibus vote list for consideration of approval.
D) Illinois Department of Transportation Motor Fuel Tax Salt and Sidewalk Replacement and Snow and Ice Control Approval Resolution
The Illinois Department of Transportation (IDOT) allows municipalities to utilize motor fuel tax funds to repair roads and for accessory items to roads. This resolution is a housekeeping item which needs to be updated on an annual basis at IDOT's request.The resolution pertains to the 2020 sidewalk replacement program and roadway salt purchases. This resolution allows for the purchase of $50,000.00 of roadway salt and allows the Village to use $90,000.00 of Motor Fuel Tax (MFT) funds for sidewalk repairs. These resolutions will be on the October 26, 2020 omnibus vote list.
E) Well #4 Emergency Repair Costs (August)
Trustee Fink stated that Well #4 went down in August which was thought to be from a power surge from ComEd during a storm. Trustee Fink presented an invoice fromSuez Water Well Solutions for Well #4 repairs in the amount of One Hundred
Twenty-Five Thousand Eight Hundred Thirty ($125,830.00) Dollars. A portion of the invoice, Sixty-Nine Thousand Three Hundred Twenty ($69,320.00) Dollars is for the repair to the motor. Public Works staff is recommending repairing the motor, which is less expensive than a new motor, with the hopes that ComEd will reimburse the Village because the motor went dead because of the power surge. Discussion followed on the status of the claim with IRMA for reimbursement of the damage claim and the cost of a new motor versus a reconditioned motor followed. With no objection from the Board, the approval of payment of the invoice to Suez Water Well
Solutions was added to the October 26, 2020 omnibus vote list.F) 2021 Budget
The Public Works and Water Committee reviewed the draft 2021 budget for municipal Services at their October 8, 2020 committee meeting. As always,Municipal Services has lofty goals of what they would like to complete over the next several years, but it always comes down to how much money we have to spend. The plan is to have a combined meeting of the Public Works and Water and Finance Committees to determine which projects can be funded. As Director Turi explained to the committee, most of the projects which are completed in the Village are funded by the roadway referendum money which will be running dry soon. Unless theVillage receives another source of revenue, these projects will come to a stop.
3) PLANNING AND ZONING - TRUSTEE JOHN
A) Ordinance Amending Section 5-1-1 (Nuisances Enumerated), Chapter 1 (Nuisances) Of Title 5 (Public Health And Safety) Of The Western Springs Municipal Code To Add A New Subsection 5 -1-1 (V) (Feeding OfWild/Feral Animals Or Birds)
Trustee John presented a code amendment which was developed in response to complaints and concerns about food being left out in residential areas. The complaint is that this practice attracts wild and feral animals and birds in great number to these residential areas. During the committee's recent meeting, the committee members saw several pictures of food and piles of food that were left out and various animals surrounding the food and eating it. In the hopes of avoiding turning Western Springs into a zoo, the committee is proposing an ordinance that amends this nuisances enumerated code and outlaws the feeding of wild or feral animals or birds, including but not limited to if such activity or condition attracts wild animals, birds or insects, in a manner or in sufficiently large numbers as to cause unreasonable damage to other property or a hazard to public health. Committee members were assured that putting out a small plate of milk or can of food for someone's cat would not fall in the scope of this ordinance. The officers in the Village would use this ordinance with discretion in following up and taking action on these types of things. This is a way to keep our community safe from a lot of extra animals with children around and those types of things. There is already a long list of defined nuisances on the books, so this is just one additional nuisance defined in our Village code that we are trying to avoid. With no objection from the Board, approval of this ordinance was added to the October 26, 2020 omnibus vote list for consideration of approval.
B) 2021 Budget
Trustee John reported that the committee reviewed the Community Development portion of the 2021 budget which is at or slightly below our budget for this upcoming year and taking into account COVID and the reduction in revenue. This will be included in the draft budget which the Finance Committee will be providing to the Board in total.
4) FINANCE - TRUSTEE RUDOLPH
A) 2021 Budget
Trustee Rudolph reported that the Finance Committee will be meeting on Tuesday morning, October 13, 2020, at 7:30 a.m. The committee will be reviewing theFinance Department 2021 budget and also the first draft of the 2020 property tax levy.
5) PUBLIC HEALTH AND SAFETY - TRUSTEE LEWISA) Fire Department Promotions
Trustee Lewis reported that lots of things were going on in the Fire Department earlier this evening and he asked Chief Kenny to share with the Board the good news.Chief Kenny said three promotions were announced earlier this evening at the fire station. Normally, it is a Board activity, where the members are brought in front of the Board and we go over some of the things that the candidates have accomplished and then proceed with the oath of office for each individual. Chief Kenny said the department was very blessed tonight with President Gallagher and Clerk Horvath coming to the fire department. The group was limited to the members of the fire department and the families of the three individuals who were being promoted. ChiefKenny then provided a summary of the qualifications of the three individuals who were promoted because it is important to remember that these are paid-on-call members, so their qualifications are pretty impressive.
Newly promoted to Captain, Steven Smith has over 19 years of service with certifications including Advanced Technician Firefighter, Hazard Materials Operations, Fire Apparatus Engineer and Vehicle Machinery Operations. Lt. Smith also serves as the department's personal protective equipment officer and is currently assigned to Fire Station #2. Lt. Smith is an EMT-Basic and earned a bachelor's degree from the University of Maine.
Fire Marshal Stephanie Grimm is a 25-year fire service veteran who jointed our department as paid-on-call member in 1995. Fire Marshal Grimm currently oversees the department's fire prevention bureau and serves as a licensed paramedic. Stephanie has earned certifications as a Firefighter III, Company Fire Officer,Hazardous Materials Operations, Fire Apparatus Engineer, Trench Rescue Specialist, Advanced Fire Prevention Officer and Fire Inspector II.
Firefighter Christopher Lang staff has over 8 years of service. Firefighter Lang staff is an EMT-Basic and has earned an associate degree in Fire Science. Chris has numerous certifications including Firefighter II, Fire Apparatus Engineer, Hazardous Materials Technician and Vehicle Machinery Operations. Firefighter Lang staff is also nearing completion of his Advanced Technician Firefighter certification.
All three were sworn in tonight and all those ranks are now effective. Chief Kenny said an interesting observation about the evening was that the overall feeling of the department is that this is the way they would like to do promotions going forward, to have the actual ceremony in the fire house and then have the Chief report to the Village Board on the qualifications of the members. We made it work under COVID conditions and it may have turned out better than we thought. Chief Kemiy thankedPresident Gallagher and Clerk Horvath for attending this evening. PresidentGallagher said it was her honor. Trustee Lewis added his congratulations to all the candidates.
B) 2021 Budget
Trustee Lewis reported that the committee also met and reviewed the proposed 2021 budget and it seems like there are some real solid efforts at cost control being put in there.
6) GENERAL GOVERNMENT - TRUSTEE TYRRELL
A) Resolution Approving the Regular Meeting Schedule For the 2021 Calendar Year of the President and Board of Trustees of the Village of Western Springs
Trustee Tyrell presented the proposed 2021 public meeting scheduled which the Village is required to publish each year pursuant to the Open Meetings Act. With no objection from the Board, the resolution providing for approval of the public meeting notice was added to the omnibus vote list on October 26, 2020. Trustee Tyrrell added that he hopes and prays that sometime within the next year we are able to meet as a body.
While we have done a wonderful job doing this remotely, he noted that he does miss seeing people in person and he is sure that the residents would like to come to share their concerns in person.
B) 2021 Budget
Trustee Tyrrell reported that he and Trustee Chen had reviewed their portion of the budget. It was a very thorough presentation and staff went through it line by line and answered all of their questions. Like the other budgets, there were hits due to COVID, but they have done a very fine job of putting it all together without any excessive cost overruns. The final budget will be presented by Finance in early November for everyone's review.
NEW BUSINESS
7) RESOLUTION 20-2574 APPROVING AND AUTHORIZING THE EXECUTION OF AN INDEPENDENT CONTRACTOR AGREEMENT BETWEEN THE VILLAGE OF WESTERN SPRINGS & MATTIX MUSIC
MOTION:
Trustee Chen moved, seconded by Tyrrell, to approve Resolution 20-2574 Approving And Authorizing The Execution Of An Independent Contractor Agreement Between The Village Of Western Springs & Matrix Music.
The motion passed on a roll call vote.
Voting aye: Trustees Chen, Fink, John, Lewis, Rudolph and Tyrrell.
Voting nay: None.
8) MOTION TO APPROVE A PROPOSAL FROM 845 DESIGN GROUP FOR PERMIT DOCUMENTS AND PUBLIC BIDDING FOR THE UPPER LEVEL OF GRAND AVENUE COMMUNITY CENTER IN AN AMOUNT NOT TO EXCEED SEVEN THOUSAND EIGHT HUNDRED f$7,800.00) DOLLARS
MOTION:
Trustee Chen moved, seconded by Tyrrell, to approve a Proposal From 845Design Group For Permit Documents And Public Bidding For The Upper LevelOf Grand Avenue Community Center In An Amount Not To Exceed SevenThousand Eight Hundred ($7,800.00) Dollars.
The motion passed on a roll call vote.
Voting aye: Trustees Chen, Chen, Fink, John, Lewis, Rudolph and Tyrrell.
Voting nay: None.
OTHER BUSINESS
There was none.
REPORTS
9) VILLAGE PRESIDENT GALLAGHER
President Gallagher said it was an honor and privilege to be present earlier this evening when the three new fire officers were sworn into office. Each one of the officers has a list of accomplishments, as Chief Kenny touched upon, that is a mile long. We are truly very fortunate to have these members of the Fire Department in leadership roles. Congratulations to them and on behalf of the Board, we thank them for their service.
Clerk Horvath added that he truly appreciates the people that we have in our Western Springs Fire Department which is mainly volunteer. It really was an honor to Clerk Horvath to administer the oath for their promotions. It was really a wonderful evening for that short period of time.
10) VILLAGE MANAGER VELKME
Village Manager Velkme asked Director Supert to provide the Board with an update onWell #5.
Director Supert said ComEd has finished a large portion of their work. We are finalizing coordination between the electrical contractor and ComEd to do the final connections.
Water Well Solutions is on site this week, they were actually out there this morning. They are beginning to do the prep to begin to set the pipe and well motor in the ground for Well #5. That work is expected to take at least a week or so. Once that is completed and everything is fully energized, the Village will begin its pump tests of the well and that will take several weeks to do initial testing to make sure everything is operating correctly. We will then begin the phased in process to start to bring the well through the plant. That will occur in stages over the next month or two depending on the readings we get when we begin adding more and more to the treatment processes.
President Gallagher said she knows that we are all anxious to see this well up and running but she appreciates the need to move forward slowly and cautiously.
Village Manager Velkme said she knows that we have had some comments from residents with regard to the appearance of the building. She reminded everyone that the site is not completed yet. There will be landscaping around it and so forth so it will be looking completely different than it does right now with the mud around it.
11) VILLAGE ATTORNEY JURUSIK
Update re: Western Springs Special Assessment Bonds, Series 2006 (Timber TrailsProject)
Attorney Jurusik introduced this matter regarding the Timber Trails Development and stated that the developer is on the line for this meeting. In the Board agenda packet are three documents that relate to the special assessment bonds that were issued for the project back in 2006. The three documents have been prepared in conjunction with the Village's bond counsel, Ray Fricke. There is a transmittal cover memo, a document entitled, "Direction to Indenture Trustee Regarding Administration of Village of Western Springs, Illinois, Special Assessment Bonds, Series 2006" and an ordinance that approves the direction to the indenture. This request to prepare these documents came from the developer who is both the landowner out at Timber Trails, the unsold lots, plus the owner of the special assessment bonds. The purpose of these documents is to clean up some technical compliance matters with the special assessment bonds that have been pending for about a decade since the property was taken over by PNC Bank and the bonds were purchased by PNC Bank in one transaction. Now we have the unsold land that is impressed by special assessment liens and the bonds all owned by the developer. They were purchased by an intermediary, Medley, and now they have been purchased by the current developer.
Attorney Jurusik continued saying that what the documents in the agenda packet really do is to re-set how the bonds have been handled over the last few years. The developer is interested in re-instituting interest payments under the bonds. That is something that was waived by PNC bank a number of years ago. The developer would also like to restracture when interest is being paid consistent with the original bond transaction.
They would like to have the principal on the bonds be paid, not on a set schedule, as provided for in the bond document but have it paid at closing, which is consistent with the way that the principal on the bonds has been handled for a number of years. There is also an assessment enforcement provision under the special assessment statute which is that if there are any technical defaults under these bonds, the Village is supposed to give notice to the Cook County Assessor to essentially have the unpaid taxes sent to public auction. We have never exercised that relief as a Village because PNC Bank, when they owned the land and owned the bonds, asked us to hold off on doing that because there were no bond holders that were jeopardized by the fact that PNC wasn't paying interest. That same situation exists today. The developer is both landowner and bond owner and so it makes no sense to exercise that enforcement action because there is a unified land owner/bond holder in this case. The document itself, the direction to indenture, does not create any liability for the Village. Even so, we have very strong indemnification language in the document that will protect the Village with respect to this document and the transaction. The document itself sets the stage for a 2020/2021 bond refinancing that the developer will come back to the Village to request. The goal there is for them to take advantage of the lower interest rates and to move from a variable to a fixed interest for the life of the bonds. Brian Taylor or Director Turi can comment on the exact number of outstanding bonds but at Attorney Jurusik's last recollection there were approximately $19 million of outstanding bonds. Back when the bonds were issued, that number was $55 million so there has been some significant progress in paying down the bonds over the years. Attorney Jurusik added that under the annexation agreement this entire transaction, all these documents and any time that is spent by his law firm or theVillage's bond counsel, is reimbursed by the developer under a reimbursement provision so this transaction doesn't cost the Village anything from that standpoint.
Brian Taylor said Peter Raphael is also on the line. Mr. Taylor said that Attorney Jurusik gave a very good detailed explanation of what they are trying to do. Mr. Taylor added that they put together this direction to indenture to trustee agreement. That was put together by M.r. Taylor's consultant with Davidson, Peter Raphael, along with the VillageAttorney and a few other attorneys that represented the Village. Mr. Taylor said he thinks that they put together this framework of everything that we are trying to accomplish in this first phase that we have, and this allows us to do everything that we are trying to do. There are a lot of technical aspects into it. Mr. Taylor continued saying he thinks everyone in the Village has reviewed it and they are all comfortable with it.
President Gallagher stated that we are here because we were the original issuer. Mr.Rafael said there is no obligation on behalf of the Village. There are some mechanical duties that Director Turi assists the developer with but, again, as Attorney Jurusik said it is a non-recourse obligation, all costs are to be reimbursed by the developer and its really
just to clean-up some open items that have been lingering for the last ten years. Mr.Rafael said hopefully the Village will move forward with their acknowledge and consent. With no further questions from the Board, President Gallagher said we would be happy to assist the developer in ensuring that this gets cleaned up. The approval will be on the October 26, 2020 omnibus vote list for consideration of approval.
ADJOURN
MOTION:
Trustee Tyrrell moved, seconded by Rudolph, to adjourn this meeting.
The motion passed on a roll call vote.
Voting aye: Trustees Tyrrell, Rudolph, Lewis, John, Fink and Chen.
Voting nay: None.
The meeting adjourned at 8:11 p.m.
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